Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Subpart 2A—Prescribed transaction reports

Subpart 2A: inserted, on 1 July 2017, by section 9 of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2015 (2015 No 96).

48A Reporting entities to report certain prescribed transactions

(1)

Despite any other enactment or rule of law, but subject to any regulations made under section 154, if a person conducts a prescribed transaction through a reporting entity, the reporting entity must (as soon as practicable, but not later than 10 working days after the transaction) report the transaction to the Commissioner in accordance with section 48B.

(2)

Nothing in subsection (1) requires any lawyer to disclose any privileged communication (as defined in section 42).

Section 48A: inserted, on 1 July 2017, by section 9 of the Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2015 (2015 No 96).